AR Month End

a checklist is provided with this documentation to assist you in the successful completion of the accounts receivable month end. 

Set Statement Date

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING > 1. SET STATEMENT DATE

The date should be the last date on which Invoices or other Transactions were processed, normally the last date of the month. The Accounts Receivable > ar Month End routines are run after the last business day of the month, and after the Sales desk control > Sales desk month End routines have completed.  The AR Month End must be completed before the next End of Day process is run, and is designed to be run from start to finish at one time. 

Service Charge Processing

Calculate Service Charges

1. ACCOUNTS RECEIVABLE >5. MONTH END PROCESSING >2. SERVICE CHARGES >1. CALCULATE SERVICE CHARGES

This program will calculate the Service Charges based on the figures that you have previously set up in 9. SYSTEM UTILITIES >3. SYSTEM SETUP > 1. ACCOUNTS RECEIVABLE > 1. SYSTEM Parameters , you may wish to double check the ensure that they are correct before you run this procedure for the first time.

Only those customers flagged [y] in the 1. accounts receivable  > 1. data maintenance  > 1. customer field number 55.  Service charges will be considered for calculation.

Once the service charge calculation has taken place, do NOT use this option again, until and unless you have deleted all the system calculated service charges using the service charge adjustments process.  If you do so, then customer records will be updated with duplicate service charges.

Service Charge Edit List

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING >2. SERVICE CHARGES >2. SERVICE CHARGE EDIT LIST

This process will create and print a Transaction Edit List of all transactions entered/created for verification before updating and will also print a GL summary Edit List, which totals the proposed entries to the General Ledger during Update.

Service Charge Adjustments

1. ACCOUNTS RECEIVABLE >5. MONTH END PROCESSING >2. SERVICE CHARGES >3. SERVICE CHARGE ADJUSTMENTS

Any changes you wish to make to the calculated entries shown on the Transaction Edit List have to be done as a Change or Delete (to remove the service charge completely).  The Add option will allow you create a Service Charge to a Customer’s account when none has been calculated and follows the same format as those processed in accounts receivable > transaction processing.  Make sure that type [1] is chosen.

Service Charge Update

1. ACCOUNTS RECEIVABLE >5. MONTH END PROCESSING >2. SERVICE CHARGES >4. SERVICE CHARGE UPDATE

Press [ENTER] to continue if you are ready to update the Service Charge Transactions, then [ENTER] to start the Update.  The screen will display the date and time as it completes each step.  A Transaction Journal and a GL Journal will print automatically.  Once the update completes, the service charge entries will appear on the customer account and can be displayed in accounts receivable > customer analysis screen.

Trial Balance Reports

Detailed Trial Balance

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING >3. TRIAL BALANCE REPORTS >1. DETAILED TRIAL BALANCE

This report will print the Customer number and name, the document type and number, date, reference and the amount for any and all entries made to the customer during the period, or since the last open item purge completed.  Each customer account is totalled, but there is no ageing on this report.

Open Item Purge

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING > 3. TRIAL BALANCE REPORTS > 2. OPEN ITEM PURGE

This program will purge all fully paid items from the customer’s account.  A fully paid invoice is one that has either a payment or Credit Memo applied against it, or a combination of the two in or to bring the net amount of the invoice or document to $0.00.

Aged Detail Trial Balance

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING > 3. TRIAL BALANCE REPORTS >3. AGED DETAIL

The Detailed Aged Trial Balance report will age the amounts owing on the customer’s transactions based upon the criteria set up in the 9. SYSTEM UTILITIES > 3. SYSTEM SETUP > 1. ACCOUNTS RECEIVABLE > 1. SYSTEM ParameterS  file.  You may wish to check this to ensure it is correct prior to running these reports for the first time.

This report shows the customer number and name, the document number, date and reference, and the net amount owed on the account.  Then the documents are aged as current, 30 days, 60 days, 90+ days and any future amount (if you used the cash receipts processing > Dating Terms function).  The net amount and the aged amounts are totalled.

Aged Summary Trial Balance

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING > 3. TRIAL BALANCE REPORTS > 4. AGED SUMMARY

The Summary Aged Trial Balance report will age the amounts owing on the customer’s transactions based upon the criteria set up in the 9. SYSTEM UTILITIES > 3. SYSTEM SETUP > 1. ACCOUNTS RECEIVABLE > 1. SYSTEM ParameterS file.  You may wish to check the fields called summary aged totals prior to running this report for the first time.

This report shows the customer number, name and phone number, the documents/invoices are aged at current, 30 days, 60 days, 90+ days and any future amount (if you used the Dating Terms function) and the totals are printed.

Aged Detail Trial Balance – Alpha

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING > 3. TRIAL BALANCE REPORTS > 5. AGED DETAIL - ALPHA

This is the same report as the Aged Detailed Trial Balance, but it prints in Customer Name order instead.

Aged Summary Trial Balance – Alpha

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING > 3. TRIAL BALANCE REPORTS > 6. AGED SUMMARY - ALPHA

This is the same report as the Aged Summary Trial Balance, but it prints in Customer Name order instead.

Aged Detail by Salesman

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING > 3. TRIAL BALANCE REPORTS > 7. AGED DETAIL BY SALESMAN

This is the same report as the Aged Summary Trial Balance with the customers by SALESMAN

Aged Summary Trial Balance by Salesman

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING > 3. TRIAL BALANCE REPORTS > 8. AGED SUMMARY BY SALESMAN

This is the same report as the Aged Summary Trial Balance with the customers grouped by Salesman.  After each salesman’s customers are printed, a total is printed for each of the ageing periods.

Here you would process your statements. Review the Statements documentation and resume from here.

Balance Forward Update

  1. ACCOUNTS RECEIVABLE >5. MONTH END PROCESSING >5. COMPLETE MONTH END >1. BALANCE FORWARD UPDATE

If you have balance forward customers, then use this option to take all the current invoices for each customer and combine them into one balance forward total.  Once this step has completed, all details that have been displayed on the Customer Analysis screen will be removed and replaced with the balance forward figure.

Balance Forward Aging

1. ACCOUNTS RECEIVABLE >5. MONTH END PROCESSING >5. COMPLETE MONTH END >2.. BALANCE FORWARD AGING

Once the details have been combined to one value, the ageing process must take place, advancing each balance into the correct age, current, 30 days, 60 days and 90+ days.

AR Month End Update

  1. ACCOUNTS RECEIVABLE >5. MONTH END PROCESSING >5. COMPLETE MONTH END >3. a/r month end update

Once all steps are complete, the ar month end Update can commence.  This option will advance the GL period for Accounts Receivable.  If you want to confirm that the update has completed successfully, then check the accounts receivable > data file maintenance > AR Parameters File for the value in the Financial Period field.

SET STATEMENT DATE

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING >5. COMPLETE MONTH END > 4. SET STATEMENT DATE

Set the statement date to the next month end for proper aging on the invoice screen.

Customer Counter Balances Reset

1. ACCOUNTS RECEIVABLE > 5. MONTH END PROCESSING >5. COMPLETE MONTH END > 5. COUNTER BALANCES RESET

Use this option to recalculate the customer’s ageing figures that appear at the bottom of the screen during sales desk > Invoicing/transfers.  The statement date should be reset to the end of the new month prior to resetting the customer balances.  Otherwise, any sales made in the new month will be considered as future.  


Revision #2
Created 14 November 2018 14:11:48 by Jim
Updated 15 September 2021 23:56:00 by Jim